Summit Minerals (ASX:SUM) Receivables Turnover : 0.56 (As of Dec. 2023)

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What is Summit Minerals Receivables Turnover?

The Receivables Turnover ratio measures the number of times a company collects its average accounts receivable balance. It is calculated as Revenue divided by average Accounts Receivable. An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. Summit Minerals's Revenue for the six months ended in Dec. 2023 was A$0.07 Mil. Summit Minerals's average Accounts Receivable for the six months ended in Dec. 2023 was A$0.12 Mil. Hence, Summit Minerals's Receivables Turnover for the six months ended in Dec. 2023 was 0.56.

Summit Minerals Receivables Turnover Historical Data

The historical data trend for Summit Minerals's Receivables Turnover can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Summit Minerals Receivables Turnover Chart

Summit Minerals Annual Data

Trend

Jun23

Receivables Turnover

Summit Minerals Semi-Annual Data
	Dec22	Jun23	Dec23
Receivables Turnover	0.46	-	0.56

Competitive Comparison of Summit Minerals's Receivables Turnover

For the Other Industrial Metals & Mining subindustry, Summit Minerals's Receivables Turnover, along with its competitors' market caps and Receivables Turnover data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Summit Minerals's Receivables Turnover Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Summit Minerals's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Summit Minerals's Receivables Turnover falls into.

Summit Minerals Receivables Turnover Calculation

Receivables Turnover measures the number of times a company collects its average accounts receivable balance.

Summit Minerals's Receivables Turnover for the fiscal year that ended in Jun. 2023 is calculated as

	Receivables Turnover (A: Jun. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Jun. 2023 )	/ (	(Accounts Receivable (A: . 20 )	+	Accounts Receivable (A: Jun. 2023 ))	/	count )
=	0	/ (	(	+	0)	/	1 )
=	0	/	0
=	N/A

Summit Minerals's Receivables Turnover for the quarter that ended in Dec. 2023 is calculated as

	Receivables Turnover (Q: Dec. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Dec. 2023 )	/ (	(Accounts Receivable (Q: Jun. 2023 )	+	Accounts Receivable (Q: Dec. 2023 ))	/	count )
=	0.068	/ (	(0	+	0.122)	/	1 )
=	0.068	/	0.122
=	0.56

Summit Minerals (ASX:SUM) Receivables Turnover Explanation

An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. This metric is commonly used to compare companies within the same industry to check whether they are on par with their competitors.

Summit Minerals Receivables Turnover Related Terms

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Summit Minerals (ASX:SUM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Summit Minerals Ltd (ASX:SUM) » Definitions » Receivables Turnover

Comparable Companies

Traded in Other Exchanges

N/A

Address

389 Oxford Street, Level 1, Mount Hawthorn, WA, AUS, 6016

Website

https://www.summitminerals.com.au

Summit Minerals Ltd engages in acquiring, exploring, and developing battery mineral projects in Australia. It holds interest in the following projects: Stallion REE Uranium Project (WA), the Windfall Antimony Project (NSW), the Phillips River Lithium Project (WA), and the Northern REE Lithium Projects (WA), and the Bridgetown Lithium Projects (WA).